Skyscrapers in Hong Kong are the world’s most expensive commercial real-estate assets, according to Knight Frank LLP.
Hong Kong skyscrapers are worth about US$8,000 per square meter, about 60 percent more than Tokyo’s tall towers, a Knight Frank report released yesterday said.
The analysis used rents and prime yields to value office towers as of the fourth quarter of last year.
“Capital values of Asia’s tallest towers showed significant divergence with Hong Kong sitting at the top and Mumbai at the bottom of the global rankings,” Knight Frank Asia-Pacific head of research Nicholas Holt said in the report.
“In Hong Kong, strong demand and a lack of new land supply continues to push values higher, while the structure of the Mumbai office market has tended to see office markets develop outwards rather than upwards,” Holt said.
Henderson Land Development Co’s (恒基兆業地產) US$3 billion acquisition of a five-story car park in Hong Kong, where it plans to build an office tower, underscores the state of the territory’s property market, Knight Frank said.
Savills has set an indicative price of HK$24.5 billion (US$3.1 billion) for the Langham Place Office Tower in Hong Kong’s Mong Kok District, which would be a record for an office building in the territory.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
READY TO BUY: Shortly after Nvidia announced the approval, Chinese firms scrambled to order the H20 GPUs, which the company must send to the US government for approval Nvidia Corp chief executive officer Jensen Huang (黃仁勳) late on Monday said the technology giant has won approval from US President Donald Trump’s administration to sell its advanced H20 graphics processing units (GPUs) used to develop artificial intelligence (AI) to China. The news came in a company blog post late on Monday and Huang also spoke about the coup on China’s state-run China Global Television Network in remarks shown on X. “The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,” the post said. “Today, I’m announcing that the US government has approved for us
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